Westpac Class Action

A class action was filed against Westpac, Westpac General, and Westpac Life in February 2020 representing a group of victims who added consumer credit insurance (CCI) to their Westpac personal loans, credit cards, or flexi loans. The products named in the suit are as follows:

  • Westpac Personal Loan Protection
  • Westpac Flexi Loan Repayment Protection
  • Westpac Credit Card Repayment Protection

The class action accused the respondents of committing a range of wrongdoings:

  • Engaging in deceptive or misleading conduct (e.g., neglecting to inform clients about the optional or non-compulsory nature of the insurance products sold)
  • Engaging in deceptive or misleading conduct (e.g., neglecting to inform clients about the optional or non-compulsory nature of the insurance products sold)
  • Securing sales by leading clients to believe their policies were compulsory or valuable when they were not
  • Engaging in unconscionable conduct, such as the unfair tactic of not providing clients with adequate opportunity to consider the viability of the policies purchased
  • Unlawful provision of advice over the phone or at a branch

The Westpac class action was filed after the establishment of the Banking Royal Commission in 2017, which found that some financial institutions were employing unfair strategies to sell unnecessary CCI (Consumer Credit Insurance) products to clients unable or unlikely to make claims.

Consumers do get missed throughout this process, usually because of lost details or a change of personal contact information. Through a class action suit, there isn’t a payout of your full premiums. It is also only on certain products, and the payouts are shared with the total group members.

This is why Get My Refund investigates each victim's individual case to fight for all of the funds owed, from all accounts on all potential mis-sold products.

Get My Refund has all the knowledge and expertise necessary to make good on taking advantage of the underprivileged. Our mission is to extract proper compensation for the affected.

Who Is Eligible for the Refund?

You may participate in this class action if, at any point since January 1, 2010, you:

  • Were issued a Westpac Personal Loan Protection, Credit Card Repayment Protection, or Flexi Loan Repayment Protection policy
  • Paid the premium on the policy or policies as listed above

As of September 2020, the Federal Court of Australia mandated that all victims be informed of their potential membership in the class action. If both of these conditions apply to you, you should or should have received a notice for the “Westpac Consumer Credit Insurance Class Action”. The ‘no win no fee” agreement means that participants do not incur any legal costs unless it is successful.

  • Extended motor warranty

Australia's Opt-Out Model

The opt-out model applies to class actions in Australia. Under the precedence, all persons affected automatically become members of the relevant class action. Members will be legally bound by the settlement or court’s decision unless they had previously opted out of the proceedings. Group members will have no comment on settlement offers, settlement sum amounts and how much is shared with all other group members and waiver of rights to ever complain directly.

On the contrary to opt out, If you also do not opt in you are not likely to receive part of any group settlement sum. This continues to be a problem, by not receiving a notice then fails to inform recipients that they are members of the class action.

How Do You Opt Out?

If you do not want to take part in this class action, you have to opt out before the stipulated deadline. Anyone who does not want to participate in the class action would have had to complete their opt-out form and mail it to the relevant Federal or Supreme Court by that date. This is also something that we can help you with.

If you had opted out, you’ve removed yourself from this class action. As a result, the outcome of the case will not affect you. You will be free to file your own claim separately and therefore entitled to more compensation.


What Is a Class Action?

A class action is a lawsuit brought by a group of claimants who suffered wrongdoings in the hands of the defendant. This type of lawsuit is also known as multi-district litigation or mass tort litigation.

Since the compensation for individual injuries may pale in comparison to the cost of a lawsuit, banding a group of claimants together tips the scale in the other direction, making it a suit worth filing.

Besides the claimant attorneys, filing a lawsuit as a group allows consolidation of witnesses, evidence, and other aspects of litigation for enhanced efficiency.

Why is a class action not always the right action?

If you opt in you waive your right to ever complain directly if you are not happy with the refund amount. Any settlement sums you are entitled to will be shared with all the other group members, some members will get more than others - plus deductions of lawyers fees and court costs.

Advantages of using Get My Refund over a class action?

We work on behalf of you as an individual on all insurances (not just the class action ones) and work towards obtaining the maximum refund you are entitled to! Class actions can take years to be approved and to go through court process, whilst our refund claims can be completed in a matter of weeks!

What is the potential difference in payouts between GMR and a class action?

this in recent times has worked out to be more than 60% more refund potential in your pocket even after our fees!

How long does the process take?

Once opted out your refund claim can be completed in less than 60 days, dependent on the complexity of your individual case.

Do I Get Anything For Reading the Entire FAQ?

You deserve some Gold Star stickers! There was some Tim Tams, but we ate them all. Sorry. You snooze, You…

You still here?

Why? Okay, since you’ve read the whole page (you did not skim did you?), you definitely deserve a reward.....Lets make it a refund! If your still concerned or not sure then pick up that phone to our friendly Team! We love helping you (02) 9156 1000.

Get My Refund is an authorised representative of Sphere Insurance Group ABN 95605842117 AFSL 478959 Agent number 1279752
2/23 Foster Street Surry Hills NSW 2010 Australia | (02) 9156 1000
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